Note 42 - ECC capital and ownership structure
ECC capital
The Bank's ECC capital totals NOK 2,596,728,860 distributed on 129,836,443 equity capital certificates (ECCs), each with a face value of NOK 20. As at 31 December 2016 there was 8,498 ECC holders (8,059 as at 31 December 2015).
ECC capital has been raised by the following means:
| Year | Change | Change in ECC capital (NOK) | Total ECC capital (NOK) | No. of ECCs | |
| 1991 | Placing | 525,000,000 | 525,000,000 | 5,250,000 | |
| 1992 | Placing | 75,000,000 | 600,000,000 | 6,000,000 | |
| 2000 | Employee placing | 5,309,900 | 605,309,900 | 6,053,099 | |
| 2001 | Employee placing | 4,633,300 | 609,943,200 | 6,099,432 | |
| 2002 | Employee placing | 4,862,800 | 614,806,000 | 6,148,060 | |
| 2004 | Bonus Issue | 153,701,500 | 768,507,500 | 7,685,075 | |
| 2005 | Placing | 217,424,200 | 985,931,700 | 9,859,317 | |
| 2005 | Employee placing | 23,850,000 | 1,009,781,700 | 10,097,817 | |
| 2005 | Split | - | 1,009,781,700 | 40,391,268 | |
| 2005 | Rights issue | 252,445,425 | 1,262,227,125 | 50,489,085 | |
| 2007 | Dividend issue | 81,752,950 | 1,343,980,075 | 53,752,203 | |
| 2007 | Employee placing | 5,420,000 | 1,349,400,075 | 53,976,003 | |
| 2008 | Dividend issue | 90,693,625 | 1,440,093,700 | 57,603,748 | |
| 2008 | Employee placing | 6,451,450 | 1,446,545,150 | 57,861,806 | |
| 2009 | Bonus issue | 289,309,025 | 1,735,854,175 | 69,434,167 | |
| 2010 | Employee placing | 12,695,300 | 1,748,549,475 | 69,941,979 | |
| 2010 | Rights issue | 624,082,675 | 2,372,632,150 | 94,905,286 | |
| 2011 | Rights issue | 625,000 | 2,373,257,150 | 94,930,286 | |
| 2012 | Reduction in nominal value | -474,651,430 | 1,898,605,720 | 94,930,286 | |
| 2012 | Rights issue | 569,543,400 | 2,468,149,120 | 123,407,456 | |
| 2012 | Employee placing | 16,220,200 | 2,484,369,320 | 124,218,466 | |
| 2012 | Placing | 112,359,540 | 2,596,728,860 | 129,836,443 | |
| Parent Bank (NOKm) | 31 Dec 2016 | 31 Dec 2015 |
| ECC capital | 2.597 | 2.597 |
| Dividend equalisation reserve | 4.487 | 3.790 |
| Premium reserve | 895 | 895 |
| Unrealised gains reserve | 81 | 179 |
| A. The equity capital certificate owners' capital | 8.060 | 7.461 |
| Ownerless capital | 4.498 | 4.105 |
| Unrealised gains reserve | 45 | 100 |
| B. The saving bank reserve | 4.543 | 4.205 |
| To be disbursed from gift fund | 220 | 40 |
| Dividend declared | 389 | 292 |
| Equity ex. profit | 13.212 | 11.998 |
| Equity capital certificate ratio A/(A+B) | 63,95 % | 63,96 % |
| Equity capital certificate ratio for distribution | 63,95 % | 63,96 % |
| 20 largest ECC holders | Number | Share |
| VPF Nordea Norge Verdi | 5,222,288 | 4.02 % |
| Verdipapirfondet DNB Norge (IV) | 4,102,874 | 3.16 % |
| Sparebankstiftelsen SMN | 3,965,391 | 3.05 % |
| VPF Odin Norge | 3,826,686 | 2.95 % |
| VPF Danske Invest Norske Aksjer Inst. II | 3,413,628 | 2.63 % |
| VPF Pareto Aksje Norge | 2,790,615 | 2.15 % |
| State Street Bank and Trust CO (nominee) | 2,778,421 | 2.14 % |
| Meteva AS | 2,359,388 | 1.82 % |
| Pareto AS | 1,821,202 | 1.40 % |
| MP Pensjon PK | 1,782,160 | 1.37 % |
| Forsvarets Personellservice | 1,717,046 | 1.32 % |
| VPF Alfred Berg Gambak | 1,650,130 | 1.27 % |
| VPF Danske Invest Norske Aksjer Inst. I | 1,618,823 | 1.25 % |
| State Street Bank and Trust CO (nominee) | 1,591,191 | 1.23 % |
| VPF Nordea Kapital | 1,540,475 | 1.19 % |
| DNB Livsforsikring AS | 1,523,948 | 1.17 % |
| JP Morgan Chase Bank (nominee) | 1,516,189 | 1.17 % |
| JP Morgan Chase Bank (nominee) | 1,462,135 | 1.13 % |
| VPF DNB Norge selektiv | 1,223,037 | 0.94 % |
| VPF Nordea Avkastning | 1,090,099 | 0.84 % |
| The 20 largest ECC holders in total | 46,995,726 | 36.20 % |
| Others | 82,840,717 | 63.80 % |
| Total issued ECCs | 129,836,443 | 100.00 % |
Financial results
Annual report and notes
